Last dates for paying all health and third-party motor vehicle insurance premiums falling in the lockdown period — March 25 to April 14 — have been extended to April 21, 2020, finance minister Nirmala Sitharaman said on Thursday.
“The government has provided relief for third-party auto insurance policy holders and health insurance policy holders in light of the #Covid19 situation,” the finance minister tweeted.
Health and auto insurance policies will not lapse even if policy holders are unable to pay their premiums, due between March 25 and April 14 on time and two separate notifications have already been issued in this regard. The decisions have been taken in the public interest, a finance ministry spokesperson said.
“The policy holders whose motor vehicle third party insurance policies fall due for renewal during the period on and from the 25th March, 2020 up to the 14th April, 2020 and who are unable to make payment of their renewal premium on time in view of the prevailing situation in the country as a result of Corona Virus disease (COVID-19), are allowed to make such payment for renewal of policies to their insurers on or before the 21st April, 2020 to ensure continuity of the statutory motor vehicle third party insurance cover from the date on which the policy falls due for renewal,” a notification issued by the department of financial services (DFS) on Wednesday said.
A similar notification for the health insurance policy has also been issued by the department.